ITC stock surges after net profit rises 10%

Shares of ITC reported decent set of numbers, broadly in-line with estimates on all fronts in Q1FY19 numbers. The company’s revenue (net of excise duty) grew by 7.6% yoy to Rs10,707.0cr, in-line with the estimates. EBITDA grew by 12.2% yoy to Rs4,202.1cr with EBITDA margin of 39.2%, an improvement of 161bps yoy. Its PAT grew by 10.1% yoy to Rs2,818.7cr, in-line with the estimate of Rs2,815.9cr.

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